Why the Year 1816 Was the Year Without Summer
21 Sep 2021 Leave a comment
in economic history, economics of media and culture, environmental economics
David Friedman is questioning whether global warming is a net negative
21 Sep 2021 Leave a comment
in applied price theory, applied welfare economics, comparative institutional analysis, David Friedman, development economics, econometerics, economic history, economics of natural disasters, energy economics, environmental economics, global warming Tags: climate adaptation, climate changes
Finally a real crisis: shortage of carbon dioxide
20 Sep 2021 Leave a comment
The UK shut down cheap coal, refused to drill for its own gas, and failed to replace its old nuclear power stations then, when gas suddenly becomes expensive, is caught with its proverbial trousers down. So much for ‘world leading’ climate policies.
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As energy prices in Europe go through the roof, factories are beginning to shut down and food is disappearing from the shelves, say The Times & The GWPF.
Welcome to green Britain, offering a foretaste of what life will be like under Net Zero conditions – poorer, colder, hungrier – unless Government changes course.
Acute food shortages were feared last night after high gas prices forced most of Britain’s commercial production of carbon dioxide to shut down.
Emergency talks were being held between government officials and food producers, retailers and the energy industry with warnings of a “black swan event”, an extremely rare blow with unpredictable…
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Puzzling over the New Zealand macro data
20 Sep 2021 Leave a comment
I have no doubt that our labour market has been tight and that core inflation has been rising (finally above the target midpoint). It won’t make that much difference in the long-run, but it is a shame the “Level 4 lockdown” didn’t come a day or two later because if it had the Reserve Bank would, appropriately enough, have raised the OCR. I also don’t have any reason to doubt that there was a lot of GDP growth in the June quarter.
But that doesn’t mean there aren’t some puzzles.
According to the official data the New Zealand economy is quite a lot bigger than it was pre-Covid, Of the two quarterly measures of real GDP, one was 5.3 per cent higher in the June quarter than it had been in the December 2019 quarter and the other was 4.3 per cent higher. Average the two and the best guess…
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A Keynote Speech & Dialogue with 2004 Nobel Laureate in Economics, Prof. Finn Kydland
20 Sep 2021 Leave a comment
in applied price theory, applied welfare economics, budget deficits, business cycles, comparative institutional analysis, constitutional political economy, defence economics, economic growth, economic history, economics of bureaucracy, Edward Prescott, entrepreneurship, fiscal policy, global financial crisis (GFC), great recession, growth disasters, growth miracles, history of economic thought, human capital, labour economics, labour supply, law and economics, macroeconomics, monetary economics, property rights, Public Choice
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